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The Economic Future in Historical Perspective$
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Paul A. David and Mark Thomas

Print publication date: 2006

Print ISBN-13: 9780197263471

Published to British Academy Scholarship Online: January 2012

DOI: 10.5871/bacad/9780197263471.001.0001

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PRINTED FROM BRITISH ACADEMY SCHOLARSHIP ONLINE (www.britishacademy.universitypressscholarship.com). (c) Copyright British Academy, 2020. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in BASO for personal use.date: 10 April 2020

The Russian Transition through the Historical Looking-glass: Gradual versus Abrupt Decontrol of Economic Systems in Britain and Russia

The Russian Transition through the Historical Looking-glass: Gradual versus Abrupt Decontrol of Economic Systems in Britain and Russia

Chapter:
(p.231) 7. The Russian Transition through the Historical Looking-glass: Gradual versus Abrupt Decontrol of Economic Systems in Britain and Russia
Source:
The Economic Future in Historical Perspective
Author(s):

Christopher Davis

James Foreman-Peck

Publisher:
British Academy
DOI:10.5871/bacad/9780197263471.003.0008

This chapter compares the Russian economic transition in the 1990s with the level of economic control in Britain following two world wars. It considers four economic systems in the UK, the USSR, and Russia during times of peace and war. The transition from a war economy in Britain after 1918 and Russia in the 1990s was primarily governed by liberal economic policies and a ‘big bang’ stabilization programme. Their rapid transitions were associated with disorganization in the economic system and problems in the reallocation of resources and the restructuring of industry. In contrast, the successful transitions in the British economy in the post-World War II period were based on continued government intervention and control. The British government pursued a gradualist policy in which wartime rationing and exchange controls were removed sequentially.

Keywords:   economic transition, economic control, Britain, USSR, Russia, stabilization programme

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